American collectors of fine wines have emerged as unlikely winners from President Donald Trump’s trade wars as buyers seek out bottles that are already in the US instead of shipping them from France and risking tariffs.
Auctioneers and brokers are predicting a run on high-end vintages if Washington follows through on a threat issued last week to impose a new round of charges on French imports, including 100 per cent tariffs on champagne.
Jamie Ritchie, chairman of Sotheby’s Wine, said: “We’re going to see retailers and restaurants wanting to secure supply of French wine at pre-tariff prices, and they’re going to look at every avenue.”
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